Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    228 5Th Ave S Edmonds, WA 98020

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Unique building in downtown Edmonds core, suitable for restaurant.

    Property size:
    5,100 SF
    Lot size:
    0.14 Acres

    Property Features for 228 5Th Ave S

    General Information

    Size
    5,100 SF
    Lot size
    0.14 Acres

    We can help!

    Listing Contact
    Brennan Mcclurg
    Brennan Mcclurg
    Source: Moodyscre

    Listing Agency: First Western Properties, Inc. Listing Agent: Brennan Mcclurg

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Downtown Edmonds Unique Building

    This property presents an opportunity for a tenant seeking a location in the downtown Edmonds core. The building possesses unique character and is slated for a complete rehabilitation and renovation by the landlord. The property is suitable for a restaurant, bar, brewery, or event space. The property size is 5100 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Edmond's Heating and Cooling Hardware & Home Improvement

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Your Table Is Ready Catering

    Location Insight

    • Map
    • Local Demand
    City
    Edmonds
    County
    Snohomish
    State
    Washington
    Longitude
    -122.3779137
    Latitude
    47.8088011

    Nearby Similar for Lease

    • $5,867 /Mo
      1,760 SF

      Edmonds Retail Space on Highway

      Retail space with high visibility and adaptable sizing.
      22921 Highway 99 N, Edmonds, WA 98026
      View Details
    • $3,769 /Mo
      1,005 SF

      Prime Retail Corner in Edmonds

      Retail space with excellent visibility and access on Highway 99.
      21920 Highway 99, Edmonds, WA 98026
      View Details
    • $1,742 /Mo
      950 SF

      Medical Office Space Available

      950 SF medical office space for lease.
      23416 Highway 99, Edmonds, WA 98026
      View Details
    • $29 SF/Yr
      2,050 SF

      Downtown Edmonds Standalone Office Building

      2,050 SF standalone office building in the heart of Edmonds.
      146 3Rd Ave S, Edmonds, WA 98020
      View Details
    • $4,000 /Mo
      1,500 SF

      Edmonds Office Space For Rent

      Office space featuring a reception area, private offices, and more.
      7631 212Th St SW, Edmonds, WA 98026
      View Details
    • $25 SF/Yr
      1,945 SF

      Office Space For Rent

      Office space available for lease in Edmonds, Washington.
      21600 Highway 99, Edmonds, WA 98026
      View Details
    • $29 SF/Yr

      Downtown Edmonds Standalone Office Building

      2,050 SF office space in the heart of Edmonds.
      146 3Rd Ave S, Edmonds, WA 98020
      View Details
    • $22 SF/Yr

      Medical/Dental Office Space Available

      Medical/dental office space for lease with highway visibility.
      23416 Highway 99, Edmonds, WA 98026
      View Details
    • $22 SF/Yr

      Medical/Dental Office Space Available

      Medical/dental office space for lease with highway visibility.
      23416 Highway 99, Edmonds, WA 98026
      View Details
    • $900 /Mo
      325 SF

      Open Commercial Office/Retail Space

      325 RSF space suitable for office, retail, or studio.
      23931 Highway 99, Edmonds, WA 98026
      View Details
    • $2,450 /Mo
      1,278 SF

      Downtown Edmonds Professional Office Space

      Professional office space with parking in downtown Edmonds available now.
      123 2Nd Ave S, Edmonds, WA 98020
      View Details
    • $3,723 /Mo
      1,489 SF

      Edmonds Office/Retail Space Available

      Ground floor office/retail space with parking in Edmonds, WA.
      110 3Rd Ave N, Edmonds, WA 98020
      View Details

    FAQs

    What type of property is this?
    Restaurant - Unique building in downtown Edmonds core, suitable for restaurant.
    Where is this restaurant located?
    The property is located at 228 5Th Ave S Edmonds, WA.
    What are key features of this property?
    This property features: - Located in the downtown Edmonds core.; - Unique building with character.; - Landlord planning complete rehab/renovation.
    (425) 250-3280 Call to check price and availability
    Request Owner's contact information
    228 5Th Ave S Edmonds, WA 98020
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    228 5Th Ave S
    Edmonds, WA 98020
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    228 5Th Ave S Edmonds, WA 98020
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Brennan Mcclurg
    Brennan Mcclurg
    (425) 250-3280 (425) 822-5522
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!